Brandywine Global Investment Management LLC Purchases 39,796 Shares of Canadian Natural Resources Limited (NYSE:CNQ)

Brandywine Global Investment Management LLC raised its position in Canadian Natural Resources Limited (NYSE:CNQ) (TSE:CNQ) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,713,207 shares of the oil and gas producer’s stock after acquiring an additional 39,796 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.08% of Canadian Natural Resources worth $52,826,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC increased its stake in Canadian Natural Resources by 4.9% during the third quarter. Kingsview Wealth Management LLC now owns 9,018 shares of the oil and gas producer’s stock worth $300,000 after acquiring an additional 419 shares during the last quarter. Fifth Third Bancorp raised its holdings in Canadian Natural Resources by 51.0% during the 4th quarter. Fifth Third Bancorp now owns 1,271 shares of the oil and gas producer’s stock valued at $39,000 after buying an additional 429 shares during the period. Assetmark Inc. lifted its position in Canadian Natural Resources by 57.3% in the fourth quarter. Assetmark Inc. now owns 1,205 shares of the oil and gas producer’s stock worth $37,000 after buying an additional 439 shares during the last quarter. Continuum Advisory LLC boosted its stake in Canadian Natural Resources by 144.1% during the third quarter. Continuum Advisory LLC now owns 830 shares of the oil and gas producer’s stock worth $28,000 after buying an additional 490 shares during the period. Finally, Orion Portfolio Solutions LLC increased its position in Canadian Natural Resources by 0.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 81,954 shares of the oil and gas producer’s stock valued at $2,530,000 after acquiring an additional 497 shares during the last quarter. 74.03% of the stock is owned by hedge funds and other institutional investors.

Canadian Natural Resources Stock Performance

Shares of CNQ stock opened at $30.55 on Friday. The firm has a market cap of $64.16 billion, a price-to-earnings ratio of 11.86 and a beta of 1.48. Canadian Natural Resources Limited has a 52-week low of $25.62 and a 52-week high of $41.29. The company has a quick ratio of 0.53, a current ratio of 0.84 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $29.98 and its 200 day moving average is $32.14.

Canadian Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 21st will be given a dividend of $0.4117 per share. This represents a $1.65 annualized dividend and a dividend yield of 5.39%. This is a positive change from Canadian Natural Resources’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 21st. Canadian Natural Resources’s dividend payout ratio is presently 77.88%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $63.00 price target on shares of Canadian Natural Resources in a research note on Thursday. Raymond James reissued a “market perform” rating on shares of Canadian Natural Resources in a research note on Friday, March 7th. Scotiabank upgraded Canadian Natural Resources from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, March 19th. Evercore ISI raised shares of Canadian Natural Resources from an “in-line” rating to an “outperform” rating in a research note on Friday, March 7th. Finally, Tudor Pickering downgraded Canadian Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.00.

Canadian Natural Resources Profile

Canadian Natural Resources Limited acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids (NGLs). The company offers light and medium crude oil, primary heavy crude oil, Pelican Lake heavy crude oil, bitumen (thermal oil), and synthetic crude oil (SCO).